Scrap Sources: Construction

Finished steel price momentum has been particularly difficult to gauge of late and what happens to ferrous scrap prices next month may be telling. Scrap for May appears to be under pressure. Despite relatively healthy U.S. steel demand and domestic mills cranking out flat rolled steel at nearly full capacity, scrap prices have seen declines […] The post Consensus View: Ferrous Scrap Prices Under Pressure for May appeared first on Steel Market Update.

Commercial Metals Company reported net earnings of $14.9 million on net sales of $1.4 billion for the second quarter of its fiscal 2019 year ending Feb. 28, 2019. Revenue for the quarter increased 33 percent year-over-year due to favorable market conditions and strategic growth initiatives, including completion of the Gerdau S.A. acquisition in November. The […] The post CMC Earnings Defy Weather and Seasonality appeared first on Steel Market Update.

January got off to a tentative start as steel prices continued to decline, leaving buyers with a cautious perspective on the months ahead. Steel Market Update’s Buyers Sentiment Index shows buyers slightly less optimistic than they were in November. Sentiment factors into buyers’ decision-making about such factors as purchasing, inventory levels, capital investment and hiring. […] The post January at a Glance: Year Off to a Tenative Start appeared first on Steel Market Update.

Steel Dynamics is excited about its recently announced plans for a new steel mill in the Southwest. After an outstanding year, breaking records for shipments, sales, net income and cash flow, CEO Mark Millett is looking forward to filling a steel void in the southwestern U.S. and Mexico. Steel Dynamics hopes to announce a site […] The post Steel Dynamics Posts Record Year appeared first on Steel Market Update.

If the prevailing view in the market proves correct, steel mills will announce a price increase soon—but it won’t stick. Two out of three steel executives responding to Steel Market Update’s market trends questionnaire this past week believe the mills will announce an increase in flat rolled prices by the end of January. But given […] The post Steel Market Trends: Price Hike Coming? appeared first on Steel Market Update.

Perhaps it’s because the year started out with so much promise that the end of 2018 seemed so uninspiring. On balance, most in the steel business would call 2018 a good year, some even a great year. But few look forward to 2019 with the same optimism and confidence they felt a year ago at […] The post 2018 Year in Review; What Does It Mean for 2019? appeared first on Steel Market Update.

Editor’s note: Steel Market Update is sharing the following Premium content with all its readers in this issue. For more information on how to upgrade to a Premium-level subscription, email info@SteelMarketUpdate.com. Table 1 summarizes the price changes through December of the five materials considered in this report. It reports the month/month, 3 months/3 months and […] The post Raw Material Prices: Iron Ore, Coking Coal, Pig Iron, Scrap and Zinc appeared first on Steel Market Update.

Editor’s note: The following analysis of the U.S. rod and bar market was contributed by CRU Steel Analyst Ryan McKinley. Steel Market Update will periodically expand its coverage of the steel market with long products content from CRU as an added benefit to our members. U.S. mills announced wire rod price increases of $1.50/cwt across […] The post Stable Lead Times, Low Imports, Scrap Hikes Boost Long Products Prices in the U.S. appeared first on Steel Market Update.

Cleveland Cliffs CEO Lourenco Goncalves is looking forward to the completion of the company’s HBI pellet plant in Toledo, Ohio. The project is on time and under budget and construction has begun on the 400-foot tower that will be completed by the end of 2019. Startup of HBI production is anticipated in mid-2020. The company […] The post Cliffs Confident its “Ahead of the Curve” appeared first on Steel Market Update.

The month of September saw steel prices continue a steady decline that began in August. Steel Market Update data in the table below shows the benchmark hot rolled price slid from more than $900 per ton in the summer to the current price around $854. The same for cold rolled, which went from $1,000 a […] The post September at a Glance appeared first on Steel Market Update.